Greece–MNE Tax

Greek Guidance on Controlled Foreign Corporations

June 15, 2022

By virtue of Law 4607/2019 (published in the Greek Government Gazette Α’ 65/24-04-2019), certain provisions of the Council Directive 2016/1164/EU of July 12, 2016, have been embedded in the Greek legislation and namely in the Greek Income Tax Code (ITC) (article 66 of L.4172/2013).

Austria

Recent corporate tax trends in EU countries: Cristina Enache / Tax Foundation→

April 5, 2022

Africa

OECD releases third batch of transfer pricing country profiles for 28 jurisdictions: OECD→

February 28, 2022

Asia-Pacific

Greece, Australia start tax treaty negotiations: Papadopoulos / Greek City Times→

February 25, 2022

Europe

Greek bill would cut corporate income tax rate by 30% for three years for mergers between small- and medium-sized enterprises: Eirini Chysolora / eKathimerini→

October 4, 2021

Asia-Pacific

Australia plans to add 10 new tax treaties in next two years

September 17, 2021

Australia plans to expand its existing network of 45 bilateral tax treaties by entering into 10 new and updated tax treaties by 2023, according to a September 15 announcement from . . .

Europe

Greece adopts new value-added tax rules on e-commerce

July 29, 2021

Emmanouela Kolovetsiou-Baliafa, KG Law Firm, discusses Greece’s July 18 adoption of new value-added tax (VAT) rules for online crossborder transactions, applying . . .

Europe

Greece enacts corporate tax rate reduction, other support measures

June 7, 2021

Emmanouela Kolovetsiou-Baliafa, KG Law Firm, discusses a Greek law retroactively reducing the corporate income tax rate, suspending of the special solidarity contribution (SSC), and introducing other support measures that were published in the Official Gazette on May 18 . . .

Estonia

Greece, Hungary, Iceland fall short of tax dispute resolution goals, OECD review finds

May 26, 2021

Iceland has no bilateral advance pricing agreement (APA) program in place, and Greece, Hungary, and the Slovak Republic are failing to timely resolve mutual agreement procedure (MAP) cases, according . . .

Europe

Greece and Hungary join BEPS MLI to fight multinational group tax avoidance

March 31, 2021

Greece and Hungary have deposited their ratification instruments for the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (BEPS MLI), the OECD announced March 30. . .

Greek transfer pricing guidance addresses the COVID-19 pandemic

March 24, 2021

Emmanouela Kolovetsiou-Baliafa of KG Law Firm, Athens, Greece, discusses a Greek Independent Authority for Public Revenues circular providing guidance on the transfer pricing implications of the COVID-19 pandemic. . .

Americas

Report estimates effective tax rates on investment in the EU member states, North Macedonia, Turkey, UK, Norway, Switzerland, Canada, Japan, and US: EU Commission→

February 19, 2021

Europe

EU Commission refers Greece to Court of Justice over rules that provide different tax treatment for losses incurred domestically and those incurred in other EU/EEA state: EU Commission→

November 2, 2020

Americas

OECD publishes report on tax policy reforms enacted both before and after COVID-19 in 37 OECD member countries plus Argentina, China, Indonesia, South Africa: OECD→

September 4, 2020

OECD publishes tax information exchange reviews for Anguilla, Chile, China, Gibraltar, Greece, Korea, Malta, Papua New Guinea, Uruguay: OECD→

September 3, 2020

Austria

Germany, France, Italy, seven others, supporting plan for EU tax on stock trades of a minimum of .2% of transaction value: Patricia Kowsmann / Wall Street Journal→

December 11, 2019

Ten EU states considering German plan for .2% tax on purchases stock in EU headquartered companies: Reuters→

June 17, 2019

Americas

Tax laws of 12 low-tax countries including BVI, Bermuda, Cayman don’t harm other countries, 131-country group concludes

July 23, 2019

An OECD-led 131-country coalition, known as the “Inclusive Framework on BEPS,” has approved. . .

Belgium

Denmark must adopt EU controlled foreign company tax rules, Commission says

July 30, 2019

The EU Commission on July 25 decided to send a reasoned opinion to Denmark for its failure . . .

Europe

EU Commission says Greece must allow deductions for foreign losses

July 30, 2019

The EU Commission has charged that Greece’s tax treatment of losses incurred . . .

Asia-Pacific

Japan, Greece to commence tax treaty negotiations

May 7, 2019

Japan’s Ministry of Finance has announced that . . .

Asia-Pacific

OECD asks for taxpayer feedback on cross-border tax dispute resolution procedures in Estonia, Greece, Hungary, Iceland, Romania, Slovak Republic, Slovenia and Turkey

March 12, 2018

The OECD today asked taxpayers to provide feedback on their experiences with cross-border tax dispute resolution procedures in the following countries: Estonia, Greece, Hungary, Iceland, Romania, Slovak Republic, Slovenia . . .

Americas

US signs agreements with Czech Republic, Finland, Greece, Italy, and Sweden to exchange country-by-country reports

October 5, 2017

The US IRS announced this week that it has signed separate agreements with the Czech Republic, Finland, Greece, Italy, and Sweden to exchange country-by-country reports on multinationals. The bilateral competent authority agreements would help put into . . .

Bulgaria, Cyprus, Portugal must comply with exchange of tax ruling directive, Commission says

July 13, 2017

The EU Commission today called on Bulgaria, Cyprus, and Portugal to transpose into their laws EU measures requiring the automatic exchange of tax rulings between EU tax authorities . . .

Europe

US, Greece agree to exchange of country-by-country tax reports on multinationals

October 12, 2017

The US IRS announced this week on its website that the US has entered into a bilateral competent authority agreement with Greece to exchange country-by-country reports . . .

Cyprus

Andersen Global to expand to Greece and Cyprus through agreement with UnityFour, Pistiolis-Triantafyllos and Associates

July 26, 2017

Andersen Global today announced that will enter the Greece and Cyprus markets though collaboration agreements with UnityFour and Pistiolis-Triantafyllos and Associates. Andersen Global said . . .

Americas

US, Greece negotiating country-by-country reporting exchange agreement

September 25, 2017

The US IRS today announced that it has entered negotiations with Greece for a bilateral competent authority agreement to exchange country-by-country reports on . . .

Europe

Greek court requires 5-year limitation for most tax cases: Tornos news→

July 3, 2017

EU countries seek September compromise on financial transaction tax

June 20, 2016

Ten EU countries remain committed to a financial transaction tax, agreeing to a compromise plan offered by Austria and setting September as the final date to iron out differences, reported Austrian Minister of Finance. . . .

EU finance ministers split on public release of multinational corporation tax data

April 25, 2016

Dutch finance minister and president of the Eurogroup, Jeroen Dijsselbloem, expressed support for a proposal that would mandate public release of country-by-country tax data on multinationals, while finance ministers from Malta, Belgium, and Austria . . .

Australia

31 nations sign agreement on exchange of country-by-country transfer pricing reports

January 27, 2016

In an effort to provide their tax administrations with more tools to combat corporate tax avoidance through transfer pricing, officials from 31 countries today signed an agreement setting . . .

Africa

OECD publishes transfer pricing profiles for Costa Rica, Greece, South Korea, Panama, Seychelles, South Africa, Turkey, Singapore

September 7, 2018

The OECD today announced the release of new transfer pricing . . .

Africa

OECD releases updated report on “preferential tax regimes” benefiting multinationals

November 15, 2018

The OECD today released an updated report, approved by the 123-nation “Inclusive Framework on BEPS,” which identifies preferential tax . . .

Momentum builds for new EU tax on internet company revenue

September 17, 2017

Most EU nations now back a plan to tax digital company revenues as a stopgap measure until global agreement is reached on new international tax rules for the digital economy. Finance ministers from Austria, Bulgaria, Greece, Romania, Slovenia . . .

Required 9 EU States to sign up for financial transaction tax, Austria’s Schelling says: Michael Shields / Reuters→

May 22, 2017

Americas

Greece, US sign FATCA agreement

January 25, 2017

The US Treasury Department updated its FATCA website January 24, reporting that Greece has signed a Model 1 intergovernmental agreement (IGA) and an understanding . . .

Americas

US IRS gives countries with “in substance” FATCA IGAs more time to sign IGAs, adds more countries to the “in substance” list

December 1, 2014

The US IRS on December 1 released an advance copy of guidance that provides that countries that have reached FATCA intergovernmental agreements (IGAs) “in substance” that do not sign an IGA by December 31 will continue to be treated as if an IGA was in effect as long as the country displays a “firm resolve” to sign an IGA as soon as possible. The new guidance . . .

Khaled Al Zaabi on Spanish government proposes digital services tax: “We are seeking assistance with Digital Assets and International Tax Consulting to help Abu Dhabi UAE Oil Company navigate the…” October 24 ,2024

Emma Hinson Sims on The Pillar One blueprint — the potential future of international taxation and transfer pricing: “HAPPY BIRTHDAY TO A VERY SMART, BEAUTIFUL, YOUNG LADY ON JANUARY 13TH.” January 6 ,2024

David Valdez on US Tax Court resolves Whirlpool tax dispute involving Mexican maquiladora structure: “Greetings Whirlpool Mexico, I’m trying to contact someone involved with the decision making for transportation from all of your Mexican…” October 20 ,2023

Jose Dominguez on The new US international tax rules: what you need to know about GILTI, FDII, BEAT etc.: “Very informative article. Question. Do you have a software to compute these US International Calcs to make them in house?” April 12 ,2023

Ciro César Soriano de Oliveira on Danish High Court rules on beneficial ownership of dividends for tax purposes: “Dear Ms Susi, This article is immensely clarifying. I’d like to know whether Danish Supreme Court has already granted its…” March 24 ,2023

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